European shares try to rebound after global sell-off

On Friday ,European shares recovered from its losses during the previous session’s global selloff, but lacked thrust from Wall Street and Asian markets.

During Thursday’s rout, which was triggered by fears the U.S. trade dispute with China would erupt again, By 0925 GMT, the euro zone‘s STOXX (STOXXE) index was up 1.2 percent after falling 3.2 percent .

Futures for U.S. indexes S&P 500 (ESc1) were trading 0.4 percent lower, after ending the previous session down but well above their session lows.

“While the DAX fell into a bear market, over 20 percent down from its record highs of earlier this year”, said Hewson, an analyst at CMC Markets. European markets have had a dreadful week with the FTSE100 having its worst day since the Brexit referendum,

Car makers (SXAP), which are most vulnerable to trade worries, were up only 0.2 percent after falling more than 4 percent during the previous session,

On Friday, traders were focused on a U.S. jobs report due later. The data should shed light on the health of the economy and the pace at which the Federal Reserve will raise interest rates.

A glimpse of optimism was provided by the market debut of Britain’s AJ Bell . With the shares rising more than 9 percent, the investment platform provider bucked a trend of lackluster European initial public offerings,

Germany’s Fresenius (DE:FREG) was the biggest loser, down 10.5 percent and set for the worst day since 2002 after the healthcare company issued a profit warning.

Fresenius Medical Care shares are also down 5.9 percent, with both dragging the DAX down to just a 0.5 percent gain.

Spain’s Sabadell (MC:SABE) dipped 0.4 percent after its chairman said the bank planed an eventual merger or sale of its TSB unit once it has returned the British bank to profitability.

Associated British Foods (L:ABF) shares fell 2.5 percent after reporting that trading at its Primark fashion chain was challenging in November.

Neil Wilson said : ” If Primark is struggling, what chance does the rest of the high street have?” , analyst at Markets.com./reuters.com

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